"You Don't Make Money When You Sell Real Estate, You Make Money When You BUY It!"

Do you see the statement above? Someone once told us it was written backwards, that you only make money when you SELL real estate. "How on earth could you make money when you buy it?" he said.

But that statement IS accurate. You see, you might receive your sales proceeds when you sell your home, but it's how well you BOUGHT your home that will determine HOW MUCH your proceeds will be.

But the story doesn't end there. Finding the right home, and making a prudent financial investment is more involved than just "buying right." You also need to FINANCE it right.

Even Experienced Homeowners Make Costly Mistakes When Buying And Financing Their Home

It's no surprise that borrowing R300,000 - R500,000 - R1 000,000 or more is a lot of money. And how to FIND the right home, how much to PAY for the home, how much to BORROW, and on what FINANCIAL TERMS can literally mean tens of thousands of rands MORE or LESS in your pocket!

If you're like most people, the decision to buy a home involves a number of stresses and strains. For about 80% of buyers, it's the single largest financial transaction of their lives. Mistakes in any part of the buying process can cost you thousands.

UNDERSTAND WHAT YOU NEED IN YOUR NEXT HOME

Two things you need to consider here: Your NEEDS and your WANTS. They're two very different things.

You may need 4 bedrooms because of your children, or need a 3 car garage because of your 3 cars.

What you'll find is your needs are fairly basic. It's the "wants" that take a little more time to clarify. Here is a list of needs you should consider BEFORE looking for your home:

• General price range of home - we'll cover this ahead when discussing financing options and the amount of home you can afford.
• Approximate size of home - make a reasonable range
• General location, area, or subdivision
• Number of bedrooms required (don't forget to include any home offices or guest rooms).
• Number of bathrooms you need - frequently determined by the number of children you have.
• Style and layout of home: Do you want a more formal plan, or a contemporary plan with great room designs, etc.
• School requirements or districts

Getting the right "needs" down up front will save you a lot of time and aggravation when looking for a home. So take a few minutes right now to jot down the needs you and your family will require for your next home. .

And keep the list handy for yourself and your Dream Africa Properties agent during your home search.

For more tips on buying your home please contact us.